China Artificial Intelligence (AI) in Diagnostics Market Analysis Report [2022-30]

China Artificial Intelligence (AI) in Diagnostics Market Analysis

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China's Artificial Intelligence (AI) in the Diagnostics market is projected to grow from $0.08 Bn in 2022 to $0.97 Bn by 2030, registering a CAGR of 36.5% during the forecast period of 2022 - 2030. The market will be driven by the growing population and the government's strong support for the development and deployment of AI technology. The market is segmented by component & by diagnosis. Some of the major players include IBM Watson Health, Siemens Healthineers & Infervision.

ID: IN10CNDH002 CATEGORY: Digital Health GEOGRAPHY: China AUTHOR: Vidhi Upadhyay

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China Artificial Intelligence (AI) in Diagnostics Market Executive Summary

The China Artificial Intelligence (AI) in the Diagnostics market is projected to grow from $0.08 Bn in 2022 to $0.97 Bn by 2030, registering a CAGR of 36.5% during the forecast period of 2022 - 2030. In 2021, there were 36,570 hospitals in China, roughly two-thirds of which were privately owned. China does provide free public healthcare as part of the country's social insurance system. The healthcare system covers the bulk of the indigenous population and, in most circumstances, foreigners as well. In China, the incidence of cardiovascular illness is increasing each year, around 4 million people die from cardiovascular disease, accounting for 40% of all fatalities in the population.

AI-powered medical imaging systems have been created to increase the accuracy and efficiency of diagnostic operations such as tumor identification, CT scan and X-ray analysis, and early-stage cancer detection. Imaging is now the most prevalent use of medical AI in China amongst other uses in oncology, neurology, pathology, cardiology, and other. Omdia Healthcare Equipment Database believes that there are around 150 Chinese medical AI providers, with more than 40% concentrating on medical imaging. According to Stanford University's AI Index, China is in the top three countries for global AI vitality across several parameters in research, development, and economics. There have been advancements in AI-assisted Traditional Chinese Medicine (TCM) pulse diagnosis which has reached excellent prediction accuracy and has shown significant promise in opening the magic box to understanding the principles of TCM pulse diagnosis and facilitating the recognition of skilled TCM practitioners.

China artificial intelligence in diagnostics market analysis

Market Dynamics

Market Growth Drivers

The healthcare system in China has considerable challenges due to the country's vast patient population, and AI-powered diagnostic tools can assist to boost the speed and accuracy of diagnoses, allowing for more effective use of healthcare resources. The Chinese government's strong support for the development and deployment of AI has produced a favorable climate for the industry's growth, including financing and regulatory assistance for research, development, and commercialization. China's advanced technology firms have extensive competence in machine learning and data analysis, allowing for the creation of advanced AI-powered diagnostic tools.

Market Restraints

There is a lack of legislative norms and rules, which has led to concern about the accuracy and dependability of these instruments. Furthermore, there is a scarcity of high-quality datasets, which are required for AI model construction and validation. Additionally, the high expense of obtaining and maintaining AI technology, as well as ethical concerns about using AI in medical decision-making, represent substantial impediments to wider use.

Competitive Landscape

Key Players

IBM Watson Health
Siemens Healthineers
Philips Healthcare
GE Healthcare
Google Health
AliveCor, Inc.
Riverain Technologies
Infervision (CHN)
Yitu Healthcare (CHN)
iCarbonX (CHN)
Huiying Medical (CHN)

Notable Deals

February 2023, GE HealthCare to Acquire Caption Health The acquisition adds AI-enabled image guiding to the ultrasound device portfolios of GE HealthCare's $3 billion Ultrasound division
December 2022, Riverian and Thynk Health Join Together to Combat Lung Cancer Using Powerful AI and Deep Learning Technology
November 2022, Google Health reached an agreement with iCAD to commercialize mammography AI

Healthcare Policies and Regulatory Landscape & Reimbursement Scenario

In 2019, China's National Health Commission (NHC) announced guidelines for AI-based medical device assessment and developed a regulatory mechanism for their authorization. The National Key R&D Program, a government-led program to encourage technological advancement, made capital available for the development of AI-based medical equipment.

The multi-level social health insurance system in China comprises urban employee basic medical insurance (UEBMI) for the urban working and pensioners, urban resident basic medical insurance (URBMI) for the urban unemployment, and the cooperative medical scheme (NCMS) for the rural populace.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Artificial Intelligence (AI) in Diagnostics Market Segmentation

By Component Outlook Type (Revenue, USD Billion):
- Software
- Hardware
- Services

By Diagnosis Outlook Type (Revenue, USD Billion):
- Cardiology
- Oncology
- Pathology
- Radiology
- Chest and Lung
- Neurology
- Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.